Text book technical analysis breakdown illustrated. $CRWD formed both a huge head and shoulders followed by a bear channel. Channel broke down, had retest of uptrend which also failed. Excellent example of large top formation requiring tons of patience to form.
$CRWD is breaking down through channel support and top formation. Patience.
TAN - Invesco Solar & Wind energy ETF has a small head & shoulders formation. Price closed Friday approx at $80.00 neckline. 1st downside objective to fill gap $77.29. Top 3 stocks in TAN ETF: $ENPH $SEDG $FSLR
Classic illustration of a head & shoulders top. A perfect sustained downtrend. 0ff 87% of ATH. Yes stocks can fall to zero.
Will $NVDA get support from dashed mid-line of down trending channel? This dashed line was resistance before. $NVDA is a nice technical chart to watch. Lots of professional engineers, who now trade, like to trade $NVDA which makes it great for technical analysis.
Tweet what technical formations you see on the chart. Thanks!
Perfect rising bear channel. As you can see since the channel began forming June 7, 2022 $CRWD rallied to top of channel, price action then returned it to support line of $148 it then rallied again towards top of channel, only to be rejected back support line. Next subsequent rally only took it to upper 1/3rd of channel, not all the way to top of channel, that...
Hi! $CRWD displays a fantastic symmetrical H&S top formation. This is accompanied by a bear pennant formation forming at the neck line breakdown area of $169. The entire formation is bearish. Nothing about this stock appears friendly. PE is 167 and trading at 43X price to book, (which is very expensive).
Nasdaq $NDX downside target from bear flag formation $12,325. -2.2% lower.
Following up on August 22nd idea. Will today be the day UTHR tests its neckline?
$CRWD huge H&S top formation with bear channel formed at neckline of approx $169. If $169 give way, downside obj <$100.
$UTHR has built a text book classic Head & Shoulders top. It is resting near its neckline breakdown area $213.75. Consolidation above the neckline breakdown area of $215-$220 has created a bearish looking pennant formation. All in all $UTHR looks sickly, and probably headed for lower prices. If neckline of $213.75 breaks, downside obj =$190.00
It's not pretty but it's a double top on USOIL for sure. Downside obj =$80
$AMEX total outperformance this year vs $DJI $QQQ $SPY Looks like investors believe smaller companies will continue to outperform.